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Egypt Inks EUR 2 bn Electricity Deal with Cyprus, Greece

Egypt has inked a cooperation agreement worth about EUR 2 bn with Cyprus-based EuroAfrica Interconnector to link the power grids of Egypt, Cyprus, and Greece through Crete, the latter's largest island, aiming to transmit 2,000 megawatts of electricity in either direction in the near future

Egypt Sets Guinness World Record with Tahya Misr Bridge

President Abdel Fattah El-Sisi inaugurated on May 15 Rod El Farag Axis Bridge - or "Tahya Misr Bridge," setting a new Guinness World Record for being the widest cable-stayed bridge with a width of 67.36 meters

SODIC Revenues Grow 84% in Q1 2019

Sixth of October Development and Investment (SODIC) reported on May 19 a sharp rise of 84% YoY in its Q1 2019 revenues, logging EGP 941 mn, compared to EGP 512 mn in the year-ago period, on the back of early handovers at one of its New Cairo projects.

Arkan Palm, Gensler Sign Deal to Develop Designs for 205-Acre Project

Arkan Palm for Real Estate Investment Company, a subsidiary of Palm Hills Developments, and Gensler, a global design and architecture firm, signed on May 22 a contract to develop designs and a detailed masterplan of the former's 205-acre project in Sheikh Zayed, west Cairo.

Real Estate Chamber Studies Mechanism for Developers’ Participation in Social Housing

The Real Estate Development Chamber at the Federation of Egyptian Industries (FEI) is considering the mechanism of private real estate compnaies' participation in the development of low- and middle-income housing projects

Master Group Plans for Largest Water Park in Ain Sokhna

Master Group revealed its plan for the establishment of the largest water park city, Ibiza Chillout, in Ain Sokhna, with investments up to EGP 3 bn

Jdar Group Launches Sea View North Coast Phase II

Jdar Group announced on May 19 the launch of the second phase of its 137-acre residential project, Sea View North Coast

Mariout Hills to Establish 1st Sports Medicine City

Mariout Hills Development, a subsidiary of Mariout Hills Group, is preparing to establish the first sports medicine city with a total investment of EGP 162 mn in its sustainable city project in New Alamein, North Coast

Gov’t Alters Regulations of 182 Plots to Residential: Minister

Minister of Public Enterprise Sector Hisham Tawfik said the ministry has officially changed the land use regulations of 182 plots in Egypt, from industrial to residential, as it gears up to offer them for development to real estate companies.

Royal Eyes EGP 250 mn Sales of Egyptian Projects in 2019

Egypt-based Royal for Real Estate Development aims to achieve sales worth EGP 250 mn from its array of projects across the country in 2019.

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